There are many reasons women may find themselves at a financial disadvantage later in life, impacting their ability to meet their basic living needs.
Some of those reasons may include not having enough superannuation, taking time out of the workforce for child-rearing responsibilities, the gender pay gap, or workplace age discrimination.
Other reasons include an increased risk of domestic violence, spousal financial abuse, family breakdowns, an unexpected crisis, or the increasingly unaffordable rental market.
“This cohort of older women – who are our sisters, mothers, grandmothers, neighbours, co-workers and friends – may find themselves in financial difficulties in later years and can struggle to such an extent that they are no longer able to maintain a roof over their heads,” Jen Park, Co-CEO of Uniting WA, said.
“They are couch surfing with friends or relatives or sleeping in their cars. Some women are sleeping rough on the streets, which can be a dangerous place to be for anyone, let alone an older woman.”
‘Fundamental human right’
The current housing market, rising interest rates and inflation are exacerbating financial challenges, pushing many towards homelessness and food insecurity, Foodbank WA CEO Kate O'Hara explained.
"Access to food and shelter is a fundamental human right. When life takes a wrong turn, these are often the first things people lose,” Ms O’Hara said.
“At Foodbank WA, we witness firsthand the devastating impact that financial hardship and rising living costs have on Western Australians.”
Among those most at risk, there is a significant uptick in woman aged 45 and over seeking support. “These women are typically trying to balance the household budget to make ends meet, caretaking for children, ill or elderly family members, or escaping abuse,” Ms O’Hara explained.
Last financial year, Foodbank WA provided 9.2 million meals to those doing it tough – 1.4 million more than the previous year – as more people face food insecurity.
Ms O'Hara said around 388,000 households across Western Australia are forced to face the difficult choice between putting food on the table or paying rent.
The majority of food insecure households across Australia – at least 60 per cent – had someone in paid work, many of them mortgage holders and renters, the Foodbank Hunger Report 2023 revealed.
Food insecurity is now being experienced in homes it has never touched before, with 77 per cent of these households facing food insecurity for the first time this year.
Eighty-five per cent cited cost of living as the cause of their food insecurity.
“These are not statistics; these are individuals, families, our neighbours, facing very real and often overwhelming financial challenges,” Ms O’Hara said.
Of those seeking food assistance through Foodbank, two thirds are female.
Providing financial support
Uniting WA has experienced rising requests for emergency relief from older women who do not have enough money for rent and food expenses alongside rising cost-of-living pressures and high inflation.
The charity collaborates with the Financial Wellbeing Collective in Western Australia to provide support for women who find themselves in financial difficulty.
The free service, funded by the government, enables people in need of financial support to seek the support of a financial counsellor or financial coach.
The service can assist people with financial difficulties such as outstanding debts, while providing education to help them better manage their money.
A Uniting WA financial counsellor recently helped an older woman who was living out of her car after the death of her partner left her with substantial debt. The woman was unable to find an affordable rental and wanted to access an early withdrawal of her superannuation to pay the debt.
Rather than withdrawing the superannuation, the financial counsellor helped the woman apply to clear the debt, which was successful, enabling her to preserve her superannuation. The financial counsellor also referred her to housing services to get her into secure housing within weeks.
“Financial counselling services are crucial to empower individuals to take control of their finances,” Ms O’Hara said.
“However, long-term solutions require addressing the root causes of financial insecurity.
“By providing targeted support, including financial counselling, affordable housing initiatives, and food assistance programs, we can empower individuals to break the cycle of poverty and build a more secure future.”
Reach out to Foodbank WA or Uniting WA's financial counselling services at unitingwa.org.au/services/financial-wellbeing for assistance or to provide help for those in need.
By Hearts and Minds
